The recent Hamptons Market Insight Autumn 2021 suggests that the number of homes snapped up this year will be highest since the financial crisis in 2007 and prices will continue to soar, with the North East being the top-performing region.
Aneisha Beveridge, head of research at Hamptons, said 'The pandemic has accelerated the closing of the house price gap between London and the rest of the country. There has been double-digit growth in the first and second quarters of this year in Northern regions. However, the average price in the North East has only recovered to its pre-financial crash peak this year. Price growth in Northern regions will continue to outpace the wider national average as the regional gap narrows…’
This does not surprise the team at Readylet Properties, who have seen constant increases in demand and prices since they started selling high yield, Readylet properties in the North East in May 2017, and can see that that both demand and prices are continuing to rise.
The forecast states that Northern regions are expected to lead house price growth until 2024, followed by modest house price rises across all the regions.
If you are looking for a one-stop-shop for investing in property in the North East that also provides high yields and is fully managed, you are in the right place - contact our team today.
Source - https://www.hamptons.co.uk/research/reports/market-insight-autumn-2021-forecast/sales-market-forecast/